
• Reported GAAP EPS of $0.31 up 151.67% YoY • Inovio projects its cash, cash equivalents, and short-term investments will support operations into the fourth quarter of 2026, with an estimated operational net cash burn of approximately $22M for the first quarter of 2026.
Bullish
Inovio's BLA for INO-3107 was accepted for FDA review, and the company advanced next-generation DNA medicine technology with published trial results. Inovio also initiated a new clinical collaboration while reducing R&D expenses.
Bearish
Inovio faces regulatory uncertainty for INO-3107's accelerated approval pathway and a significant decrease in cash to $58.5 million. The company's fourth-quarter net income was largely due to a volatile non-cash gain.